Advice on Niche Market Exit Planning
Selling a Trailers Rental and Leasing Business
There is a lot of confusion about the best way to sell a trailers rental and leasing business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
The economy isn't the only thing that is uncertain these days. So are trailers rental and leasing business buyers, many of whom are waiting to pull the trigger on their next acquisition.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a trailers rental and leasing business sale. To improve sale outcomes, you will simply need to tailor your trailers rental and leasing business to today's buyers.
Sale Preparation Timeframes
It's critical to properly plan for the sale ofa trailers rental and leasing business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey trailers rental and leasing business operation. At a minimum, plan on spending six months preparing your trailers rental and leasing business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful trailers rental and leasing business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the trailers rental and leasing business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the trailers rental and leasing business industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
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